Cambridge Q4 2010 Quarterly Earnings Report

Cambridge Q4 2010 Quarterly Earnings Report:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU of 1.193 cents for the reporting quarter.
• Portfolio valuation as at 31 December 2010 was S$928.5 million, an increase of 5.7% from the 30 June 2010 valuation, on a like-for-like basis.
• Three new acquisitions costing S$74.3 million (including acquisition costs), were completed and part financed by a S$40.0 million Private Placement in August 2010 and a S$50.4 million Private Placement/Preferential Offering in October 2010.
• Gearing reduced to 34.7% as at 31 December 2010 from 42.6% as at 31 December 2009.
• 4Q2010 distributable income increased by 11.2% to S$12.0 million as compared to 3Q2010 distributable income of S$10.8 million, which translated to a distribution per unit (“DPU”) of 1.193 cents, which is 0.5% more than the 3Q2010 DPU of 1.187 cents. 
• An advanced distribution of 0.627 cents per unit was paid on 6 December 2010 in conjunction with the private placement exercise cum preferential offering carried out in October 2010. The balance of 0.566 cents DPU will be payable on 24 March 2011.
• The Books will close from 5pm on 18 Feb 2011 for the purpose of determining Unitholders’ entitlement to the distribution. 
• NAV per unit of $0.607 as at 31 December 2010.

Author's Note
The DPU for the reporting quarter is 1.193 cents. There was already an advance distribution of 0.627 cents per unit for the period from 1 Sep 2010 to 17 Nov 2010 paid on 6 Dec 2010 in conjunction with the private placement exercise cum preferential offering carried out in Oct 2010. The balance of 0.566 cents DPU for the period from 18 Nov 2010 to 31 Dec 2010 will be payable on 24 March 2011, with the Books closure on 18 Feb 2011.

The DPU was 1.187 cent in the previous quarter.

Related Posts

• Results Release 
• DPU Information Page 
• Cambridge Notice of Advanced Distribution - 18 NOV 2010
• Cambridge issues and list 38,483,354 new units pursuant to the preferential offering - 18 NOV 2010
• Cambridge to Launch Equity Fund Raising to raise up to S$50.4m for the acquisitions of 4 properties - 21 OCT 2010 
• Cambridge Q3 2010 Quarterly Earnings Report